"companies. The world's 5th largest gold producer (170 tons in 2012) that is home to two of the world's ten largest gold mines. As recently as 2007 South Africa was the world's top gold producer. The drop in its global ranking is not due to resource depletion (South Africa ranks close behind leader Australia in reserves) but rather to its high costs of production. In fact South Africa has the highest mining cash costs among all major producing regions. Notable South African gold companies include: The Forbes Global 2000 list is produced annually by Forbes. Compiling information about each of"
"Economy of Africa The economy of Africa consists of the trade, industry, agriculture, and human resources of the continent. , approximately 1.07 billion people were living in 54 different countries in Africa. Africa is a resource-rich continent. Recent growth has been due to growth in sales in commodities, services, and manufacturing. Sub-Saharan Africa, in particular, is expected to reach a GDP of $29 trillion by 2050. In March 2013, Africa was identified as the world's poorest inhabited continent: Africa's entire combined GDP is barely a third of the United States' GDP; however, the World Bank expects that most African countries"
"reasonably similar to that of Brazil and Russia, and slightly above that of India. South Africa is a ""gateway"" to Southern Africa and Africa in general as the most developed African country. China is South Africa's largest trading partner, and India wants to increase commercial ties with Africa. South Africa is also Africa's largest economy, but as number 31 in global GDP economies it is far behind its new partners. Jim O'Neill expressed surprise when South Africa joined BRIC since South Africa's economy is a quarter of the size of Russia's (the least economically powerful BRIC nation). He believed that"
"Life in the African Union The combined states of the African Union constitute the world's 17th largest economy with a nominal GDP of $500 billion, ranking after the Netherlands. By measuring GDP by PPP, the African Union's economy totals $1.515 trillion, ranking it 11th after Brazil. At the same time, they have a combined total debt of $200 billion. The AU future confederation's goals include the creation of a free trade area, a customs union, a single market, a central bank, and a common currency, thereby establishing economic and monetary union. The current plan is to establish an African Economic"
"Economy of the African Union The combined states of the African Union (AU) constitute the world's 11th largest economy with a nominal gross domestic product (GDP) of US$2263 billion. By measuring GDP by purchasing power parity (PPP), the African Union's economy totals US$1.515 trillion, ranking it 11th after Russia. At the same time, they have a combined total debt of US$200 billion. The AU has only 2% of the world's international trade. But because over 90% of international trade consists of currency futures, Africa's 2% actually makes up the bulk of real commodity traded worldwide to include about 70% of"
"is the largest economy in Africa, having overtaken South Africa. During the oil boom of the 1970s, Nigeria accumulated a significant foreign debt to finance major infrastructural investments. With the fall of oil prices during the 1980s oil glut Nigeria struggled to keep up with its loan payments and eventually defaulted on its principal debt repayments, limiting repayment to the interest portion of the loans. Arrears and penalty interest accumulated on the unpaid principal, which increased the size of the debt. After negotiations by the Nigeria authorities, in October 2005 Nigeria and its Paris Club creditors reached an agreement under"
"Africa. The main industries are textile and clothing, leather processing, agribusiness, chemical products, electronics and vehicles. East African countries like Uganda also produce motorcycles for the domestic market. Africa's US$107 billion financial services industry will log impressive growth for the rest of the decade as more banks target the continent's emerging middle class. The banking sector has been experiencing record growth, among others due to various technological innovations. China and India have showed increasing interest in emerging African economies in the 21st century. Reciprocal investment between Africa and China increased dramatically in recent years amidst the current world financial crisis."
"the borders of the OAU had overlapped almost all of Africa. Life in the African Union The combined states of the African Union constitute the world's 17th largest economy with a nominal GDP of $500 billion, ranking after the Netherlands. By measuring GDP by PPP, the African Union's economy totals $1.515 trillion, ranking it 11th after Brazil. At the same time, they have a combined total debt of $200 billion. The AU future confederation's goals include the creation of a free trade area, a customs union, a single market, a central bank, and a common currency, thereby establishing economic and"
"emerged among the top economies since the 21st century, while Zimbabwe and the Democratic Republic of Congo, potentially among the world's richest nations, have sunk into the list of the world's poorest nations due to pervasive political corruption, warfare and braindrain of workforce. Botswana remains the site of Africa's longest and one of the world's longest periods of economic boom (1966–1999). The United Nations predicts Africa’s economic growth will reach 3.5% in 2018 and 3.7% in 2019. As of 2007, growth in Africa had surpassed that of East Asia. Data suggest parts of the continent are now experiencing fast growth,"
"the world's strategic minerals, including gold and aluminium. Africa is also a large market for European, American and Chinese industry. The AU future confederation's goals include the creation of a free trade area, a customs union, a single market, a central bank, and a common currency, thereby establishing economic and monetary union. The current plan is to establish an African Economic Community with a single currency by 2023. Economy of the African Union The combined states of the African Union (AU) constitute the world's 11th largest economy with a nominal gross domestic product (GDP) of US$2263 billion. By measuring GDP"
"of the whole region. The South African economy has a large volume of capital (public and private) in close relation to the global economic marketplaces. The currency of South Africa is the rand, which is also used in other countries of Southern Africa. The Johannesburg Stock Exchange is the biggest in Africa and tenth globally. Major sectors of the economy are mining (especially coal extraction), diamonds, gold and platinum. It is among the countries with the greatest reserves and diversity of mineral wealth. It has the most powerful and diversified industry in Africa, from processing of agricultural goods and minerals"
"Economy of Nigeria Nigeria is a middle-income, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 30th-largest economy in the world in terms of nominal GDP, and the 23rd-largest in terms of purchasing power parity. It is the largest economy in Africa; its re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the West African subcontinent. In addition, the debt-to-GDP ratio is 11 percent, which is 8 percent below the 2012 ratio. Previously hindered by years"
"industry of Africa is one of the largest mineral industries in the world. Africa is the second biggest continent, with 30 million km² of land, which implies large quantities of resources. For many African countries, mineral exploration and production constitute significant parts of their economies and remain keys to future economic growth. Africa is richly endowed with mineral reserves and ranks first or second in quantity of world reserves of bauxite, cobalt, industrial diamond, phosphate rock, platinum-group metals (PGM), vermiculite, and zirconium. Gold mining is Africa's main mining resource. African mineral reserves rank first or second for bauxite, cobalt, diamonds,"
"Mineral industry of Africa The mineral industry of Africa is the largest mineral industries in the world. Africa is the second largest continent, with 30 million km² of land, which implies large quantities of resources. For many African countries, mineral exploration and production constitute significant parts of their economies and remain keys to economic growth. Africa is richly endowed with mineral reserves and ranks first or second in quantity of world reserves of bauxite, cobalt, industrial diamond, phosphate rock, platinum-group metals (PGM), vermiculite, and zirconium. Gold mining is Africa's main mining resource. The Central African Mining and Exploration Company (CAMEC),"
"the mid-twentieth century to an economy driven primarily by the tertiary sector in the present day which accounts for an estimated 65% of GDP or $230 billion in nominal GDP terms. The country's economy is reasonably diversified with key economic sectors including mining, agriculture and fisheries, vehicle manufacturing and assembly, food processing, clothing and textiles, telecommunication, energy, financial and business services, real estate, tourism, transportation, and wholesale and retail trade. Mining has been the main driving force behind the history and development of Africa's most advanced economy. Large-scale and profitable mining started with the discovery of a diamond on the"
"of August 2009 it was reported that Saudi Arabia is the strongest Arab economy according to World Bank. Saudi Arabia remains the top Arab economy in terms of total GDP. It is Asia's eleventh largest economy, followed by Egypt and Algeria, which were also the second and third largest economies in Africa (after South Africa), in 2006. In terms of GDP per capita, Qatar is the richest developing country in the world. The total GDP of all Arab countries in 1999 was US$531.2 billion. By grouping all the latest GDP figures, the total Arab world GDP is estimated to be"
"to China, and 1% of African gas goes to Asia. North African preferentially exporting its oil to western countries was EU 64%; US 18%; all others 18%. Mineral industry of Africa The mineral industry of Africa is the largest mineral industries in the world. Africa is the second largest continent, with 30 million km² of land, which implies large quantities of resources. For many African countries, mineral exploration and production constitute significant parts of their economies and remain keys to economic growth. Africa is richly endowed with mineral reserves and ranks first or second in quantity of world reserves of"
"over half of the countries in Sub Saharan Africa rose by over 4.5% annually, while generation capacity grew at a rate of 1.2%. According to the World Development Report published by the World Bank in 2012, Africa’s economy is about the size of the Netherlands' economy, which is equivalent to only approximately six percent of the U.S. economy. Akin Iwayemi, a professor at University of Ibadan in Nigeria, suggests that there is potentially a “strong feedback relationship between the energy sector and the national economy.” Determining socio-economic indicators in Africa include population, population density, land area, proportion of citizens living"
"to register 8% economic growth, a record it has sustained since, turning it into one of the fastest-growing economies in Africa. This sustained economic growth has succeeded in reducing poverty and also reducing fertility rates, with growth between 2006 and 2011 reducing the percentage of the country's population living in poverty from 57% to 45%.The country's infrastructure has also grown rapidly, with connections to electricity going from 91,000 in 2006 to 215,000 in 2011. Existing foreign investment is concentrated in commercial establishments, mining, tea, coffee, and tourism. Minimum wage and social security regulations are in force, and the four prewar"
"largest in the world but its GDP was only ninth in the world, yet twenty-five years later China's economy has become the second largest after only the U.S. This major increase in economic development was not without a cost because although economic reform and globalization had brought China unprecedented wealth it also brought China a monstrous increase in carbon dioxide emissions. Since 2005, China has spent more than $56 billion in sub-Saharan Africa, with significant investment in oil, platinum, copper, nickel, and manganese as well as other extracting industries. China's bilateral trade with African countries rose from $10 billion in"
"17.6%, Sudan at 9.6%, Mozambique at 7.9% and Malawi at 7.8%. Other fast growers include Rwanda, Mozambique, Chad, Niger, Burkina Faso, Ethiopia. Nonetheless, growth has been dismal, negative or sluggish in many parts of Africa including Zimbabwe, the Democratic Republic of the Congo, the Republic of the Congo and Burundi. Many international agencies are increasingly interested in investing in emerging African economies. especially as Africa continues to maintain high economic growth despite current global economic recession. The rate of return on investment in Africa is currently the highest in the developing world. Debt relief is being addressed by some international"
"countries posting 6% or higher growth rates, and another 40% growing between 4% to 6% per year. Several international business observers have also named Africa as the future economic growth engine of the world. Africa's economy was diverse, driven by extensive trade routes that developed between cities and kingdoms. Some trade routes were overland, some involved navigating rivers, still others developed around port cities. Large African empires became wealthy due to their trade networks, for example Ancient Egypt, Nubia, Mali, Ashanti, and the Oyo Empire. Some parts of Africa had close trade relationships with Arab kingdoms, and by the time"
"Economy of Tanzania The United Republic of Tanzania is the second largest economy in the East African Community and the twelfth largest in Africa. The country is largely dependent on agriculture for employment, accounting for about half of the employed workforce. An estimated 34 percent of Tanzanians currently live in poverty. The economy has been transitioning from a command economy to a market economy since 1985. Although total GDP has increased since these reforms began, GDP per capita dropped sharply at first, and only exceeded the pre-transition figure in around 2007. Following the rebasing of the economy in 2014, the"
"an even more unified United States of Africa. International monetary and banking unions include: Major economic unions are shown in the chart below. After an initial rebound from the 2009 world economic crisis, Africa’s economy was undermined in the year 2011 by the Arab uprisings. The continent’s growth fell back from 5% in 2010 to 3.4% in 2011. With the recovery of North African economies and sustained improvement in other regions, growth across the continent is expected to accelerate to 4.5% in 2012 and 4.8% in 2013. Short-term problems for the world economy remain as Europe confronts its debt crisis."
"world's economic powers building relations with Africa's resource rich nations. As of 2008, the entire GDP of Africa is about $1.2 trillion. Both China and Africa proclaim a new, mutually beneficial economic, political, and regional alliance. China sees a source for raw materials and energy, desperately needed to support its feverish industrial and economic growth. Success in this quest means high employment and a higher quality of life for Chinese citizens, as well as increasing social stability and political security for Chinese elites. Chinese oil companies are gaining the invaluable experience of working in African nations which will prepare them"
"a process initiated several decades earlier following the aftermath of the Great Leap Forward. Beginning in 1980, the PRC initiated a policy of rapid modernization and industrialization, resulting in reduced poverty and developing the base of a powerful industrial economy. As of 2018, the PRC had the second largest nominal GDP in the world, at $13.457 trillion, and the largest GDP by purchasing power parity at $23.12 trillion. . Africa has a population of roughly 1.018 billion and a surface of 30,221,532 km². Industrialization started marginally in the early 20th century in the colonies of the European nations, namely Portugal,"
"October 2016, the top economies in 2021 (by projected nominal gross domestic product (GDP)) are going to be China, the U.S., India, Japan, Germany, Russia, Indonesia, Brazil, the U.K., and France respectively. Nowadays Indonesia is not BRIC country, but as solely emerging economies in the list sets on seven in projected 2021 top economies. There are no South Africa and no (South Korea, Mexico, (GCC Arab countries—Saudi Arabia, Qatar, Kuwait, Bahrain, Oman and the United Arab Emirates), Eastern Europe and Turkey) as mentioned above. Mexico and South Korea are currently the world's 13th and 15th largest by nominal GDP just"
"suggests that most African economies continued to occupy a subordinate position in the world economy after independence with a reliance on primary commodities such as copper in Zambia and tea in Kenya. Despite this continued reliance and unfair trading terms, a meta-analysis of 18 African countries found that a third of countries experienced increased economic growth post-independence. The debts of African economies are external and one-sided. While the USA and the UK have gross external debts of 95% and 400% respectively, these debts are balanced by the countries being major lenders. This is not the case for African nations which"
"copper, timber, and nickel, which benefits many African countries as well. While African growth from 2000 to 2005 averaged 4.7% per year, almost twice the growth has come from petroleum-exporting countries (2005: 7.4%; 2006: 6.7%; 2007: 9.1%) than from petroleum-importing countries (2005: 4.5%; 2006: 4.8%; 2007: 4.5%). During the year 2011, trade between Africa and China increased a staggering 33% from the previous year to US $166 billion. This included Chinese imports from Africa equalling US $93 billion, consisting largely of mineral ores, petroleum, and agricultural products and Chinese exports to Africa totalling $93 billion, consisting largely of manufactured goods."
"Economy of Argentina The economy of Argentina is a high income economy for fiscal year 2017 according to the World Bank. It is Latin America's third largest economy, and the second largest in South America behind Brazil. The country benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Argentina's economic performance has historically been very uneven, in which high economic growth alternated with severe recessions, particularly during the late twentieth century, and income maldistribution and poverty increased. Early in the twentieth century Argentina had one of the ten highest per capita"
"bauxite. As the growth in Africa has been driven mainly by services and not manufacturing or agriculture, it has been growth without jobs and without reduction in poverty levels. In fact, the food security crisis of 2008 which took place on the heels of the global financial crisis pushed 100 million people into food insecurity. In recent years, the People's Republic of China has built increasingly stronger ties with African nations and is Africa's largest trading partner. In 2007, Chinese companies invested a total of US$1 billion in Africa. A Harvard University study led by professor Calestous Juma showed that"
"Poverty in Nigeria Nigeria has one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report released in July 2014 by the World Bank. Poverty still remains significant at 33.1% in Africa's biggest economy. For a country with massive wealth and a huge population to support commerce, a well-developed economy, and plenty of natural resources such as oil, the level of poverty remains unacceptable. However, poverty may have been overestimated due to the lack of information on the extremely huge informal sector of the economy, estimated at around 60% more, of the current GDP figures."
"world's largest economy during 0 BCE and 1000 BCE. China was the largest and most advanced economy on earth for much of recorded history, until the British Empire (excluding India) overtook it in the mid-19th century. For several decades in the late twentieth century Japan was the largest economy in Asia and second-largest of any single nation in the world, after surpassing the Soviet Union (measured in net material product) in 1986 and Germany in 1968. (NB: A number of supernational economies are larger, such as the European Union (EU), the North American Free Trade Agreement (NAFTA) or APEC). This"